“Innovation has always been part of BASF’s DNA. Especially in these volatile times, it is crucial to leverage our innovative strength to develop competitive solutions that differentiate us as a company in our markets and give us a competitive edge,” said Dr. Stephan Kothrade, Member of the Board of Executive Directors of BASF and Chief Technology Officer, at the company’s Research Press Briefing held today.
Research and development (R&D) is a vital pillar in this strategy, as BASF’s products and process innovations enable customers to innovate and grow in their respective markets and significantly contribute to achieving profitable growth and value creation in a world moving towards greater sustainability.
For BASF, the green transformation, sustainable agriculture and competitiveness are the most important topics where progress in R&D is essential. This also includes continuous improvement of technologies, processes and operations, which has always been a priority for BASF. “Through continuous improvements in the energy and resource efficiency of our plants, we not only secure cost leadership in many value chains but also make our products more sustainable,” Kothrade said.
To further strengthen its R&D portfolio, BASF is continuously researching new solutions and enhancing existing products and processes by leveraging its innovative power. With annual investments in R&D of around €2 billion in 2024, BASF is the leading company in the chemical industry.
Around 80 percent of R&D activities in scope are directly related to BASF’s sustainability targets. “That shows our strong commitment to the green transformation,” Kothrade said. Investment in R&D also pays off: Over 15 percent of BASF’s sales – around €11 billion in 2024 – were generated by innovative products launched in the past five years that stemmed from R&D activities. “The most important factors in our success are the know-how and the commitment of our approximately 10,000 R&D employees globally,” said Kothrade. In 2024, their work and expertise resulted in over 1,000 new patents worldwide, with about 45 percent focusing on sustainability and 23 percent on digitalization and artificial intelligence (AI).
